On this episode of the Debtwired! podcast, Till Schweizer, Managing Director at Partners Group, joins Debtwire Europe’s Jelena Cvejic to discuss the current demand and supply dynamics in the leveraged loan market, and CLO positioning in light of a generally strong market and an increasing number of underperforming credits.
Till Schweizer has been with Partners Group since 2007 and has 18 years of industry experience. He is part of the Liquid Loans business unit, based in London, and a member of the Global Liquid Loans Investment Committee and Structured Credit Investment Committee.
Schweizer reflects on the growing strength of the leveraged loan market and gives his outlook on upcoming loan supply and the revival of M&A activity.
He then takes us through the evolving CLO landscape and shares his views on new CLO issuance, refinancing, resets, and liquidations.
As we touch upon the effect of higher-for-longer interest rates on the sustainability of capital structures, Schweizer talks about positioning CLOs amid an increasing number of underperforming credits.
He highlights the relevance of loan documentation features such as basket capacities and the ability to change governing law in cross-border transactions, given a recent increase in liability management exercises in the US. #leveragedfinance #leveragedloans #CLOs
